SpaceX reported a loss of 9 cents per share, significantly better than the anticipated 26 cents, with revenue exceeding expectations across its three segments. However, the company's capital expenditures skyrocketed to $18.4 billion, primarily for AI investments, raising concerns among investors and resulting in an 11% decline in its stock price during after-hours trading.
The stock closed just above $125, below its IPO price of $135 and far from its peak of $200. In contrast, the S&P 500 and Dow Jones Industrial Average achieved new all-time highs, buoyed by positive market sentiment, although some analysts, like Michael Burry, caution that the market may be nearing a peak.
Disney's shares rose over 3% after beating earnings estimates, while Procter & Gamble announced a $3.8 billion acquisition of supplement brand Thorne, which had revenues exceeding half a billion dollars last year. Chipotle's stock fell nearly 10% after it temporarily removed jalapeños from its Minnesota locations due to a potential salmonella outbreak, marking its worst day since October.
Overall, these developments highlight the mixed signals in the market, with strong performances from some companies overshadowed by concerns over spending and food safety issues